LKQ Corporation Announces Record Results For Second Quarter 2013

  • Revenue Growth of 24% to a Record $1.25 billion
  • Organic Revenue Growth for Parts and Services of 13.1%
  • Second Quarter 2013 Diluted EPS of $0.25
  • Annual Guidance Updated

CHICAGO, Aug. 1, 2013 (GLOBE NEWSWIRE) -- LKQ Corporation (Nasdaq:LKQ) today reported record revenue for the second quarter of 2013 of $1.25 billion, an increase of 24.4% as compared to $1.01 billion in the second quarter of 2012. Net income for the second quarter of 2013 was $76 million, an increase of 18.3% as compared to $64 million for the same period of 2012. Diluted earnings per share of $0.25 for the second quarter ended June 30, 2013 increased 19.0% from $0.21 for the second quarter of 2012. The Company noted that the second quarter of 2013 and 2012 diluted earnings per share included losses totaling $0.01 per share resulting from restructuring and acquisition related expenses, the change in fair value of contingent consideration liabilities, and, in 2013 only, a loss on debt extinguishment. Earnings per share in the second quarter of 2012 also included gains equal to $0.02 per share that resulted from favorable legal settlements.

"Our very strong organic revenue growth of 13.1% for parts and services revenue was driven by improvements across both our segments. We were particularly pleased to see our North American operations report a robust 7.3% parts and services growth, while organic growth in our European operations accelerated to 37.8%," stated Robert L. Wagman, President and Chief Executive Officer of LKQ Corporation. "Our 24% revenue growth translated into growth in EPS of 30% (after adjusting for acquisition related items, our refinancing costs and favorable legal settlements last year) demonstrating the leverage we are achieving with our revenue growth," continued Mr. Wagman.

On a six month year-to-date basis, revenue was $2.45 billion, an increase of 20.1% from $2.04 billion for the comparable period of 2012. Net income for the first six months of 2013 was $160 million, as compared to $145 million for the first half of 2012. Diluted earnings per share was $0.53 for the first six months of 2013, as compared to $0.48 for the comparable period of 2012.

Total organic revenue growth on a six month year-to-date basis was 9.5%. Parts and services revenue grew organically by 11.3%. Acquisition revenue growth on a six month year-to-date basis was 11.0%.

Balance Sheet and Liquidity

As of June 30, 2013, LKQ's balance sheet reflected cash and equivalents of $162 million and outstanding debt of $1.38 billion, including obligations outstanding under the Company's credit facility of $633 million ($450 million of term loans and $183 million of revolver borrowings) and senior notes of $600 million. Total availability under the credit facility at June 30, 2013 was $1.11 billion.

"Our available credit plus our reported cash balances totaled $1.3 billion at June 30, 2013. The solid cash flow from our existing operations combined with the flexibility of our balance sheet resulting from our May refinancing transactions has positioned the Company well for executing our acquisition and development strategy," stated John S. Quinn, Executive Vice President and Chief Financial Officer of LKQ Corporation.

Other Events

On May 1, 2013, the Company completed its acquisition of Sator Beheer ("Sator"). Sator is the market leading distributor of automotive aftermarket parts in the Netherlands, Belgium, Luxembourg and Northern France.

On May 3, 2013, the Company amended its credit facility to increase the aggregate amount available thereunder from $1.4 billion to $1.8 billion ($1.35 billion under the revolving credit facility and $450 million of term loan availability). The amended facility matures in May 2018.

On May 9, 2013, the Company completed an offering of $600 million aggregate principal amount of 4.75% senior notes due 2023. The proceeds from the offering were used to repay revolver borrowings under our credit facility, including amounts borrowed to finance the acquisition of Sator, to pay related fees and expenses and for general corporate purposes.

In addition to the acquisition of Sator, during the second quarter of 2013, the Company acquired an aftermarket radiator distributor with locations in Ohio, California and Florida; an aftermarket radiator distributor with locations in South Carolina and Florida; a distributor of automotive cooling parts and radiators in Georgia; a self service salvage yard in Illinois; a wholesale salvage yard in Ontario, Canada; and wholesale salvage yards in West Virginia and Pennsylvania.

Company Outlook

The Company updated its guidance for 2013.
     
  Updated Guidance Prior Guidance
Organic revenue growth 8.5% to 10.5% 6.5% to 8.5%
Net income $313 million to $333 million $305 million to $330 million
Diluted EPS $1.03 to $1.10 $1.00 to $1.09
Cash flow provided from operations Approximately $300 million Approximately $300 million
Capital expenditures $100 million to $115 million $100 million to $115 million

Guidance for 2013 is based on current conditions and excludes the impact of restructuring and acquisition related expenses, losses on debt extinguishment, and gains or losses (including changes in fair value of contingent consideration liabilities) and capital spending related to acquisitions or divestitures. Organic revenue guidance refers only to parts and services revenue.

On August 17, 2012, the Company announced a two-for-one split of the Company's common stock. The common stock began trading on a split-adjusted basis on September 19, 2012. All per share information in this release is presented on a split-adjusted basis.

Quarterly Conference Call

LKQ will host a conference call and Webcast on August 1, 2013 at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) with members of senior management to discuss the Company's results.

To access the investor conference call, please dial (877) 705-6008. International access to the call may be obtained by dialing (201) 689-8481. The audio webcast can be accessed via the Company's website at www.lkqcorp.com in the Investor Relations section.

A replay of the conference call will be available by telephone at (877) 660-6853 or (201) 612-7415 for international calls. The telephone replay will require you to enter conference ID: 417180 #. An online replay of the audio webcast will be available on the Company's website. Both formats of replay will be available through September 1, 2013. Please allow approximately two hours after the live presentation before attempting to access the replay.

About LKQ Corporation

LKQ Corporation ( www.lkqcorp.com ) is the largest nationwide provider of alternative collision replacement parts and a leading provider of recycled engines and transmissions and remanufactured engines, all in connection with the repair of automobiles and other vehicles. LKQ also has operations in the United Kingdom, the Benelux, France, Canada, Mexico and Central America. LKQ operates more than 500 facilities, offering its customers a broad range of replacement systems, components and parts to repair automobiles and light, medium and heavy-duty trucks.

Forward Looking Statements

The statements in this press release that are not historical in nature are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include statements regarding our expectations, beliefs, hopes, intentions or strategies. Forward-looking statements involve risks and uncertainties, some of which are not currently known to us. Actual events or results may differ materially from those expressed or implied in the forward looking statements as a result of various factors.

These factors include:
  • uncertainty as to changes in North American and European general economic activity and the impact of these changes on the demand for our products and our ability to obtain financing for operations;
  • fluctuations in the pricing of new original equipment manufacturer ("OEM") replacement products;
  • the availability and cost of our inventory;
  • variations in the number of vehicles sold, vehicle accident rates, miles driven and the age profile of vehicles in accidents;
  • changes in state or federal laws or regulations affecting our business;
  • changes in the types of replacement parts that insurance carriers will accept in the repair process;
  • inaccuracies in the data relating to industry size published by independent sources upon which we rely;
  • changes in the level of acceptance and promotion of alternative automotive parts by insurance companies and auto repairers;
  • changes in the demand for our products and the supply of our inventory due to severity of weather and seasonality of weather patterns;
  • increasing competition in the automotive parts industry;
  • uncertainty as to the impact on our industry of any terrorist attacks or responses to terrorist attacks;
  • our ability to operate within the limitations imposed by financing agreements;
  • declines in the values of our assets;
  • fluctuations in fuel and other commodity prices;
  • fluctuations in the prices of scrap metal and other metals;
  • our ability to develop and implement the operational and financial systems needed to manage our operations;
  • our ability to identify sufficient acquisition candidates at reasonable prices to maintain our growth objectives;
  • our ability to integrate, realize expected synergies and successfully operate acquired companies and any companies acquired in the future and the risks associated with these companies;
  • claims by OEMs or others that attempt to restrict or eliminate the sale of alternative automotive products;
  • termination of business relationships with insurance companies that promote the use of our products;
  • product liability claims by the end users of our products or claims by other parties who we have promised to indemnify for product liability matters;
  • currency fluctuations in the U.S. dollar versus other currencies and currency fluctuations in the pound sterling and euro versus other currencies;
  • periodic adjustments to estimated contingent purchase price amounts;
  • instability in regions in which we operate that can affect our supply of certain products;
  • interruptions, outages or breaches of our operational systems, security systems, or infrastructure as a result of attacks on, or malfunctions of, our systems; and
  • other risks that are described in our Form 10-K filed March 1, 2013 and in other reports filed by us from time to time with the Securities and Exchange Commission.

You should not place undue reliance on these forward-looking statements. All of these forward-looking statements are based on our expectations as of the date of this press release. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
LKQ CORPORATION AND SUBSIDIARIES
Unaudited Consolidated Condensed Statements of Income
( In thousands, except per share data )
         
         
  Three Months Ended Six Months Ended
  June 30, June 30,
         
  2013 2012 2013 2012
         
Revenue  $ 1,251,748  $ 1,006,531  $ 2,447,745  $ 2,038,308
         
Cost of goods sold (1)  741,875  584,600  1,435,923  1,168,994
         
Gross margin  509,873  421,931  1,011,822  869,314
         
Facility and warehouse expenses  102,885  82,192  203,131  167,300
         
Distribution expenses  106,583  91,926  210,440  183,739
         
Selling, general and administrative expenses  146,012  121,698  283,068  243,412
         
Restructuring and acquisition related expenses  3,680  2,195  5,185  2,442
         
Depreciation and amortization  19,335  15,353  37,032  30,246
         
Operating income  131,378  108,567  272,966  242,175
         
Other expense (income):        
Interest expense, net  12,492  7,356  21,087  14,723
Loss on debt extinguishment  2,795  --   2,795  -- 
Change in fair value of contingent consideration liabilities  230  1,240  1,053  (105)
Other income, net  (577)  (1,228)  (175)  (1,739)
         
Total other expense, net  14,940  7,368  24,760  12,879
         
Income before provision for income taxes  116,438  101,199  248,206  229,296
         
Provision for income taxes   40,716  37,201  87,892  84,307
         
Net income  $ 75,722  $ 63,998  $ 160,314  $ 144,989
         
         
Earnings per share:        
Basic  $ 0.25  $ 0.22  $ 0.54  $ 0.49
         
Diluted  $ 0.25  $ 0.21  $ 0.53  $ 0.48
         
         
Weighted average common shares outstanding:        
Basic  299,159  295,290  298,690  294,784
         
Diluted  303,657  300,152  303,295  299,746
         
(1) Cost of goods sold for the three and six months ended June 30, 2012 included gains of $8.4 million and $16.7 million, respectively, resulting from certain settlements of a class action lawsuit against several of our suppliers.
 
LKQ CORPORATION AND SUBSIDIARIES
Unaudited Consolidated Condensed Balance Sheets
( In thousands, except share and per share data )
     
     
  June 30, December 31,
  2013 2012
Assets    
     
Current Assets:    
Cash and equivalents  $ 161,590  $ 59,770
Receivables, net  413,215  311,808
Inventory  972,926  900,803
Deferred income taxes  53,328  53,485
Prepaid income taxes  11,885  29,537
Prepaid expenses and other current assets  45,546  28,948
 Total Current Assets  1,658,490  1,384,351
     
Property and Equipment, net  515,353  494,379
Intangibles  1,974,899  1,796,999
Other Assets  69,573  47,727
     
 Total Assets  $ 4,218,315  $ 3,723,456
     
Liabilities and Stockholders' Equity    
     
Current Liabilities:    
Accounts payable  $ 263,565  $ 219,335
Accrued expenses  163,855  134,822
Income taxes payable  9,756  2,748
Contingent consideration liabilities  44,584  42,255
Other current liabilities  12,388  17,068
Current portion of long-term obligations   64,962  71,716
     
 Total Current Liabilities  559,110  487,944
     
Long-Term Obligations, Excluding Current Portion  1,311,519  1,046,762
Deferred Income Taxes  118,044  102,275
Contingent Consideration Liabilities  4,889  47,754
Other Noncurrent Liabilities  87,100  74,627
     
Commitments and Contingencies    
     
Stockholders' Equity:    
Common stock, $0.01 par value, 1,000,000,000 and 500,000,000 shares authorized, 299,798,228 and 297,810,896 shares issued and outstanding at June 30, 2013 and December 31, 2012, respectively  2,998  2,978
Additional paid-in capital  982,386  950,338
Retained earnings  1,170,333  1,010,019
Accumulated other comprehensive (loss) income   (18,064)  759
     
 Total Stockholders' Equity  2,137,653  1,964,094
     
 Total Liabilities and Stockholders' Equity  $ 4,218,315  $ 3,723,456
 
LKQ CORPORATION AND SUBSIDIARIES
Unaudited Consolidated Condensed Statements of Cash Flows
( In thousands )
     
  Six Months Ended
  June 30,
  2013 2012
     
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income  $ 160,314  $ 144,989
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization  39,711  33,446
Stock-based compensation expense  10,562  7,978
Excess tax benefit from stock-based payments  (10,902)  (7,219)
Other  6,126  1,369
Changes in operating assets and liabilities, net of effects from acquisitions:    
 Receivables  (50,320)  (22,662)
 Inventory  (6,227)  (30,763)
 Prepaid income taxes/income taxes payable  34,521  13,728
 Accounts payable  14,361  3,802
 Other operating assets and liabilities  11,344  (23,656)
     
 Net cash provided by operating activities  209,490  121,012
     
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment  (40,151)  (41,615)
Proceeds from sales of property and equipment  1,251  472
Cash used in acquisitions, net of cash acquired  (308,579)  (120,315)
     
Net cash used in investing activities  (347,479)  (161,458)
     
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from exercise of stock options  10,604  10,112
Excess tax benefit from stock-based payments  10,902  7,219
Debt issuance costs  (16,521)  -- 
Net borrowings of long-term obligations  236,167  34,130
     
Net cash provided by financing activities  241,152  51,461
     
Effect of exchange rate changes on cash and equivalents  (1,343)  91
     
Net increase in cash and equivalents  101,820  11,106
     
Cash and equivalents, beginning of period  59,770  48,247
     
Cash and equivalents, end of period  $ 161,590  $ 59,353
 
LKQ CORPORATION AND SUBSIDIARIES
Unaudited Supplementary Data
( In thousands, except per share data )
             
             
  Three Months Ended June 30,
             
Operating Highlights 2013 2012    
    % of   % of    
    Revenue   Revenue Change % Change
             
Revenue  $ 1,251,748 100.0%  $ 1,006,531 100.0%  $ 245,217 24.4%
             
Cost of goods sold (1)  741,875 59.3%  584,600 58.1%  157,275 26.9%
             
Gross margin  509,873 40.7%  421,931 41.9%  87,942 20.8%
             
Facility and warehouse expenses  102,885 8.2%  82,192 8.2%  20,693 25.2%
             
Distribution expenses  106,583 8.5%  91,926 9.1%  14,657 15.9%
             
Selling, general and administrative expenses  146,012 11.7%  121,698 12.1%  24,314 20.0%
             
Restructuring and acquisition related expenses  3,680 0.3%  2,195 0.2%  1,485 67.7%
             
Depreciation and amortization  19,335 1.5%  15,353 1.5%  3,982 25.9%
             
Operating income  131,378 10.5%  108,567 10.8%  22,811 21.0%
             
Other expense (income):            
Interest expense, net  12,492 1.0%  7,356 0.7%  5,136 69.8%
Loss on debt extinguishment  2,795 0.2%  --  0.0%  2,795 n/m
Change in fair value of contingent consideration liabilities  230 0.0%  1,240 0.1%  (1,010) (81.5%)
Other income, net  (577) (0.0%)  (1,228) (0.1%)  651 53.0%
             
Total other expense, net  14,940 1.2%  7,368 0.7%  7,572 102.8%
             
             
Income before provision for income taxes  116,438 9.3%  101,199 10.1%  15,239 15.1%
             
Provision for income taxes   40,716 3.3%  37,201 3.7%  3,515 9.4%
             
             
Net income  $ 75,722 6.0%  $ 63,998 6.4%  $ 11,724 18.3%
             
             
Earnings per share:            
Basic  $ 0.25    $ 0.22    $ 0.03 13.6%
             
Diluted  $ 0.25    $ 0.21    $ 0.04 19.0%
             
Weighted average common shares outstanding:            
Basic  299,159    295,290    3,869 1.3%
             
Diluted  303,657    300,152    3,505 1.2%
             
(1) Cost of goods sold for the three months ended June 30, 2012 included a gain of $8.4 million resulting from a settlement of a class action lawsuit against several of our suppliers.
 
LKQ CORPORATION AND SUBSIDIARIES
Unaudited Supplementary Data
( In thousands, except per share data )
             
             
  Six Months Ended June 30,
             
Operating Highlights 2013 2012    
    % of   % of    
    Revenue   Revenue Change % Change
             
Revenue  $ 2,447,745 100.0%  $ 2,038,308 100.0%  $ 409,437 20.1%
             
Cost of goods sold (1)  1,435,923 58.7%  1,168,994 57.4%  266,929 22.8%
             
Gross margin  1,011,822 41.3%  869,314 42.6%  142,508 16.4%
             
Facility and warehouse expenses  203,131 8.3%  167,300 8.2%  35,831 21.4%
             
Distribution expenses  210,440 8.6%  183,739 9.0%  26,701 14.5%
             
Selling, general and administrative expenses  283,068 11.6%  243,412 11.9%  39,656 16.3%
             
Restructuring and acquisition related expenses  5,185 0.2%  2,442 0.1%  2,743 112.3%
             
Depreciation and amortization  37,032 1.5%  30,246 1.5%  6,786 22.4%
             
Operating income  272,966 11.2%  242,175 11.9%  30,791 12.7%
             
Other expense (income):            
Interest expense, net  21,087 0.9%  14,723 0.7%  6,364 43.2%
Loss on debt extinguishment  2,795 0.1%  --  0.0%  2,795 n/m
Change in fair value of contingent consideration liabilities  1,053 0.0%  (105) (0.0%)  1,158 n/m
Other income, net  (175) (0.0%)  (1,739) (0.1%)  1,564 89.9%
             
Total other expense, net  24,760 1.0%  12,879 0.6%  11,881 92.3%
             
             
Income before provision for income taxes  248,206 10.1%  229,296 11.2%  18,910 8.2%
             
Provision for income taxes   87,892 3.6%  84,307 4.1%  3,585 4.3%
             
             
Net income  $ 160,314 6.5%  $ 144,989 7.1%  $ 15,325 10.6%
             
             
Earnings per share:            
Basic  $ 0.54    $ 0.49    $ 0.05 10.2%
             
Diluted  $ 0.53    $ 0.48    $ 0.05 10.4%
             
Weighted average common shares outstanding:            
Basic  298,690    294,784    3,906 1.3%
             
Diluted  303,295    299,746    3,549 1.2%
             
(1) Cost of goods sold for the six months ended June 30, 2012 included gains of $16.7 million resulting from certain settlements of a class action lawsuit against several of our suppliers.
         
 The following unaudited table reconciles net income to EBITDA:         
         
  Three Months Ended Six Months Ended
  June 30, June 30,
         
  2013 2012 2013 2012
  (In thousands)
         
Net income  $ 75,722  $ 63,998  $ 160,314  $ 144,989
Depreciation and amortization  20,671 17,189  39,711 33,446
Interest expense, net  12,492  7,356  21,087 14,723
Loss on debt extinguishment (1)  2,795  --   2,795  -- 
Provision for income taxes   40,716  37,201  87,892 84,307
         
         
 Earnings before interest, taxes, depreciation and amortization (EBITDA)   $ 152,396  $ 125,744  $ 311,799  $ 277,465
         
 EBITDA as a percentage of revenue  12.2% 12.5% 12.7% 13.6%
         
(1) Loss on debt extinguishment is considered a component of interest in calculating EBITDA, as the write-off of debt issuance costs is similar to the treatment of debt issuance cost amortization.
         
We provide a reconciliation of Net Income to EBITDA as we believe it offers investors, securities analysts and other interested parties useful information regarding our results of operations because it assists in analyzing our performance and the value of our business. EBITDA provides insight into our profitability trends, and allows management and investors to analyze our operating results with and without the impact of depreciation, amortization, interest and income tax expense. We believe EBITDA is used by securities analysts, investors, and other interested parties in evaluating companies, many of which present EBITDA when reporting their results. EBITDA should not be construed as an alternative to operating income, net income or net cash provided by (used in) operating activities, as determined in accordance with accounting principles generally accepted in the United States. In addition, not all companies that report EBITDA information calculate EBITDA in the same manner as we do and, accordingly, our calculation is not necessarily comparable to similarly named measures of other companies and may not be an appropriate measure for performance relative to other companies.
         
The following unaudited tables compare certain revenue categories:        
         
  Three Months Ended    
  June 30,    
         
  2013 2012 Change % Change
  (In thousands)    
         
Included in Unaudited Consolidated Condensed Statements of Income of LKQ Corporation        
         
North America  $ 796,574  $ 706,515  $ 90,059 12.7%
Europe  297,388  165,066  132,322 80.2%
Parts and services  1,093,962  871,581  222,381 25.5%
Other   157,786  134,950  22,836 16.9%
Total  $ 1,251,748  $ 1,006,531  $ 245,217 24.4%
         
Revenue changes by category for the three months ended June 30, 2013 vs. 2012:        
         
         
  Revenue Change Attributable to:  
  Acquisition Organic Foreign Exchange % Change
         
North America 5.5% 7.3% (0.1%) 12.7%
Europe 45.3% 37.8% (2.9%) 80.2%
Parts and services 13.0% 13.1% (0.6%) 25.5%
Other  21.0% (4.1%) 0.0% 16.9%
Total 14.1% 10.8% (0.5%) 24.4%
         
         
  Six Months Ended    
  June 30,    
         
  2013 2012 Change % Change
  (In thousands)    
         
Included in Unaudited Consolidated Condensed Statements of Income of LKQ Corporation        
         
North America  $ 1,606,831  $ 1,437,317  $ 169,514 11.8%
Europe  509,523  325,312  184,211 56.6%
Parts and services  2,116,354 1,762,629 353,725 20.1%
Other   331,391 275,679 55,712 20.2%
Total  $ 2,447,745  $ 2,038,308  $ 409,437 20.1%
         
Revenue changes by category for the six months ended June 30, 2013 vs. 2012:        
         
         
  Revenue Change Attributable to:  
  Acquisition Organic Foreign Exchange % Change
         
North America 5.9% 6.0% (0.1%) 11.8%
Europe 23.8% 35.0% (2.2%) 56.6%
Parts and services 9.2% 11.3% (0.5%) 20.1%
Other  22.7% (2.5%) 0.0% 20.2%
Total 11.0% 9.5% (0.4%) 20.1%
 
The following unaudited table compares our revenue and EBITDA by reportable segment:
         
         
  Three Months Ended Six Months Ended
  June 30, June 30,
         
  2013 2012 2013 2012
  (In thousands)
         
Revenue        
North America  $ 953,918  $ 841,335  $ 1,937,306  $ 1,712,419
Europe  297,830  165,196  510,439  325,889
 Total revenue  $ 1,251,748  $ 1,006,531  $ 2,447,745  $ 2,038,308
         
EBITDA        
North America (1)  $ 118,632  $ 109,687  $ 253,967  $ 241,875
Europe (2) (3)  33,764  16,057  57,832  35,590
 Total EBITDA  $ 152,396  $ 125,744  $ 311,799  $ 277,465
         
         
(1) For the three and six months ended June 30, 2012, North America EBITDA included gains of $8.4 million and $16.7 million, respectively, resulting from certain settlements of a class action lawsuit against several of our suppliers.
         
(2) Included within EBITDA of our European segment are losses of $1.2 million during each of the three month periods ended June 30, 2013 and 2012 for the change in fair value of contingent consideration liabilities, primarily related to our 2011 Euro Car Parts acquisition. During the six month periods ended June 30, 2013 and 2012, our European segment recognized a loss of $1.9 million and a gain of $0.2 million, respectively, related to the remeasurement of these contingent consideration liabilities.
         
(3) For the three and six months ended June 30, 2013, Europe EBITDA included restructuring and acquisition related expenses of $2.8 million and $3.7 million, respectively, related primarily to the acquisition of Sator Beheer.
CONTACT: Joseph P. Boutross-Director, Investor Relations         LKQ Corporation         (312) 621-2793         jpboutross@lkqcorp.com

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